Exports positive in April-June quarter despite global challenges: Goyal
Union Commerce and Industry Minister Piyush Goyal. | Photo Credit: ANI India’s exports have recorded…
The job crisis undermines state legitimacy
Aspirants wait to board a train to go home after completing the Uttar Pradesh constable civil police direct recruitment examination in Lucknow. File | Photo Credit: The Hindu India is not producing enough good quality jobs for its people. A good quality job provides dignity, adequate compensation, an opportunity for learning, and advancement for those…
LTIMindtree unveils AI-powered insurance underwriting solution, shares in red
LTIMindtree, a global technology consulting firm, launched its ‘AI-Smart Underwriter’ solution today in collaboration with ServiceNow, aimed at modernizing insurance underwriting processes. The new platform combines artificial intelligence and automation to streamline risk assessment and policy decisions. The shares of LTIMindtree Limited were trading at ₹5,892.80 down by ₹50.30 or 0.85 per cent on the…
SIT tightens PIT disclosure for MF designated persons
Capital market regulator SEBI has made it mandatory for asset management companies (AMCs) to disclose details of the holdings of designated persons of AMCs, trustees and their immediate relatives on aggregate basis from November 1 every quarter. The holdings as on October 31 will be disclosed on the platform of the stock exchanges by November…
India scraps export tax on parboiled rice to boost exports
Representational image of rice grains being winnowed at a paddy field in Kerala. India has revoked the export duty on parboiled rice | Photo Credit: K.K. Mustafah The Union Government has scrapped the export tax on parboiled rice, it said in an official order on Tuesday (October 22, 2024), as inventories across India — the…
Broker’s call: City Union Bank (Buy)
Target: ₹185 CMP: ₹168.50 The management has indicated the growth visibility has improved post the implementation of new initiatives and tech overhaul. Currently, the pick-up in growth has been in the traditional segments of MSME and Gold loans, led by strong demand. This momentum is likely to continue, as the management expects CUB’s credit growth…
Broker’s call: Ultratech Cement (Add)
Target: ₹12,190 CMP: ₹10817.35 Ultratech Cement’s Q2-FY25 consolidated sales volume grew by about 4 per cent y-o-y to 32mt. As per Ultratech Cement, H1 was below par due to heat wave, general elections in India and higher monsoon rains during the year. However, it expects 2HFY25F to be better, with rural demand already showing signs…
CCI nod for Bharti Airtel’s stake increase in Indus Towers post buyback
Competition Commission of India (CCI) has given its nod for Bharti Airtel’s shareholding increase in Indus Towers post latter’s recent buy back of equity shares. Post the transaction, Indus Towers has become a subsidiary of Bharti Airtel. “CCI approves an increase in the percentage shareholding of Bharti Airtel in Indus Towers pursuant to buy back…
SEBI whole-time member raises concern on F&O, SME IPO frenzy
A senior SEBI official reiterated the regulator’s concern on the increased retail participation in derivative products and SME IPOs. “Increased retail participation in derivative segment and other risky products is a matter of concern. While it signifies growing confidence among individual investors, it also necessitates caution and the need for continuous investor education,” Ashwani Bhatia,…
IMF maintains India’s growth projection at 7% for FY25
A view of the International Monetary Fund headquarters building in Washington, DC ahead of the 2024 IMF/World Bank Annual Meetings. | Photo Credit: AFP The International Monetary Fund (IMF) maintained its June growth rate projects for India in its latest World Economic Outlook (WEO) released on Tuesday (October 22, 2024), to kick off the World…
Indices fall on rising US bond yields, selling by overseas investors
Benchmark indices fell over a per cent on Tuesday to their lowest in over two months on rise in US bond yields, sustained selling by foreign investors and disappointing domestic earnings. Lofty valuations, tensions in West Asia and “Buy China, Sell India” trade have triggered an exodus of hot money this month. Monthly selling by…
